Comments on: Fed: Consumers cut debt by record $21.6B in Julyhttp://libn.com/2009/09/09/fed-consumers-cut-debt-by-record-216b-in-july/
The premier source of Long Island news and data on business, economic trends and the region’s robust entrepreneurial sector.Thu, 08 Dec 2016 21:23:26 +0000hourly1https://wordpress.org/?v=4.6.1By: Frank Fittonhttp://libn.com/2009/09/09/fed-consumers-cut-debt-by-record-216b-in-july/comment-page-1/#comment-16747
Wed, 09 Sep 2009 19:12:28 +0000http://libn.com/?p=30653#comment-16747Memories of this time are not going to fade easily for people. Those free spending, free caring days I think are gone, at least for the foreseeable future. What I hope will emerge from this recession is a more financial responsible public. People are going to be weary, and that’s not necessarily a bad thing. I think when we do finally emerge from this downturn, that we’re going to see people saving a lot more money than they did in the past. That to me is a good thing. The borrow, borrow, borrow, spend, spend, spend, lifestyle is not one made for long term success. Eventually the bottom is going to fall out of anything like built like that. My dream is that a more secure, financial responsible America will emerge and that will be a country that is built on a solid foundation. It’s only going to take time.